The National Asset Management Agency (Nama) will transfer the first €2 billion of an expected €4 billion surplus to the exchequer later this year. Nama was due to be wound up in 2021 after it had finished getting a return for the State from the loans. It said it expected to repay the last chunk of subordinated debt (€1.06 billion) on its books in March, paving the way for the release of half its expected €4 billion surplus to the exchequer. Nama said that by the end of 2020 it will have “extinguished” all its debt obligations. This stood at €31.8 billion at inception in 2009 (comprising €30.2 billion senior debt, the last of which was redeemed in 2017– three years ahead of schedule – and €1.6 billion in subordinated debt).

Source: The Irish Times January 06, 2020 05:37 UTC